The national defense argument for trade restriction holds that
A) the president should have the authority to erect trade barriers in case of war or national emergency.
B) free trade is a danger to the national defense because open borders increase the likelihood that spies will get into the country.
C) a country should produce those goods necessary for national defense purposes even if it doesn't have a comparative advantage in them.
D) if your enemy erects trade restrictions, so should you.
C
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If the natural rate of unemployment equals 5 percent and the actual rate of unemployment equals 6 percent, then cyclical unemployment equals:
A. 11 percent. B. 1.2 percent. C. ?1 percent. D. 1 percent.
An increase in the amount of human capital labor ________ the short -run aggregate supply curve and ________ the long-run aggregate supply curve.
What will be an ideal response?
A cooperative game is
A. the manner in which one oligopolist reacts to a change in price made by another oligopolist in the industry. B. a game in which firms will not negotiate in any way. C. companies colluding in order to make higher than competitive rates of return. D. when plans made by firms are known as game strategies.
Refer to the information provided in Figure 23.4 below to answer the question(s) that follow.
Figure 23.4Refer to Figure 23.4. Suppose the consumption function for C1 = 20 + 0.5Y, the consumption function that best fits C3 is
A. C3 = 20 + 0.4Y. B. C3 = 20 + 0.8Y. C. C3 = 40 + 0.4Y. D. C3 = 40 + 0.5Y.